Nutritional Bars Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Protein Bars, High-Fiber Bars, and Others), Category (Conventional and Gluten-Free), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online

The scope of our recent study on "Nutritional Bars Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Category, and Distribution Channel" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

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The nutritional bars market is expected to grow from US$ 7,100.96 million in 2022 to US$ 9,838.38 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2022 to 2028.

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Nutritional bars are low in sugar and high in protein and omega-3 fatty acids with fewer additives. Owing to their high fiber and protein content, they are considered as healthier alternatives than other bars. Nutritional bars improve protein levels in body, help repair muscles, improve body performance, boost metabolism, and lower glucose and saturated fat levels before and after a workout. Nutritional bars consist of various product types such as protein bars and high-fiber bars. The growth of the nutritional bars market is attributed to the increasing awareness regarding the benefits of nutritional bars and the growing number of fitness and wellness centers across the world.

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Based on type, the nutritional bars market is segmented into protein bars, high-fiber bars, and others. The protein bars segment held the largest market share in 2021, whereas the high-fiber bars segment is projected to register the highest CAGR during the forecast period. High-fiber bars often feature fiber-rich ingredients such as nuts, oats, seeds, and fruits. These nutritional bars can easily and conveniently boost fiber intake in the body, which may help regulate digestion and promote overall health. Moreover, dietary fiber gives many nutritional benefits such as support pre & post workout, provides continuous energy supply, and others. It helps maintain and control blood sugar levels and cholesterol levels. It can also aid in achieving a healthy weight, maintaining bowel health, and lowering the adverse effects of cardiovascular diseases and cancers on the human body. Due to these factors, the demand for high-fiber bars is increasing among health-conscious consumers.

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The nutritional bars market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America held the largest share of the market in 2021. However, APAC is expected to register the highest CAGR during the forecast period. The market growth in North America is attributed to the rising preference for on-the-go snacking, meal replacement, functional food, and indulgence. In addition, the rising demand for nutritional bars, including protein bars, high-fiber bars, and meal replacement bars, from young adults and athletes is driving the market growth.

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Impact of COVID-19 Pandemic on Nutritional Bars Market

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The COVID-19 pandemic adversely affected economies and industries in various countries across the world. The imposition of lockdowns, travel restrictions, and business shutdowns across the world hampered the growth of several industries, including the food & beverages industry. The temporary shutdown of manufacturing units disrupted global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in their product sales in 2020. Moreover, international travel bans imposed by governments of various countries in Europe, Asia Pacific (APAC), and North America compelled companies to temporarily discontinue their collaboration and partnership plans. All these factors hampered various industries in 2020 and early 2021, which restrained the growth of many markets, including the nutritional bars market.

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1.1.1 Nutritional Bars Market Breakdown - by Region

The report segments the nutritional bars market as follows:

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The nutritional bars market, based on type, is segmented into protein bars, high-fiber bars, and others. In terms of category, the market is bifurcated into conventional and gluten-free. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the nutritional bars market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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